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first. guest host david walker of comeback america initiative and democratic strategist steve mcmahon both here to help us find solutions. >> then, what goldman's jim o'neill is so he seeing to help you prepare for your investments straight ahead. plus, adding opportunities door to door. >> have a good day. >> thank you. >>> domino's pizza ceo patrick doyle is here. the second hour of "squawk box" begins right now. >> good morning, everybody. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is out this week. we've been watching futures this morning and they are indicated slightly higher. dow futures are up about 35 points above fair value, s&p futures and the fass dak futures are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing on meet the press that republicans will accept the president's plan to raise income taxes. >> what we're trying to do is make it more likely we come together on a good agreement for the american people that extends t
by the supreme court could result in the roe v. wade of guy rights. joining me now is political strategist steve elmendorf and chris geithner, senior political reporter for buzz feed. steve, i want to go to you first on this. there has been a lot of discussion and a lot of back and forth whether it's a good thing for marriage equality for the supreme court to take up these issues. some folks think better to leave it at the state level. there has been a lot of progress there. are you bullish or bearish on this? >> i'm bullish. i think the supreme court is going to do the right thing. you know, it's hard to predict, but i think the country has been moving so fast in the right direction. the court is not immune to public opinion. the court is not immune to the wind blowing through the country. and it's so clear where we're moving and the progress we've made in the last five years has been amazing. and i think the court is going to do the right thing. >> chris, let's talk a little bit about public opinion. because we have some polling that shows a breathtaking change of public opinion on this. in 20
constitution for that country. one that gave president mohammed morsi new powers. steve harrigan is standing by live in cairo with more. >> remarkable scene in cairo this morning outside egypt supreme constitutional court. to put it simply, the court justices could not get in their own building. the judges will suspend their work while the atmosphere of intimidation physical a mental intimidation exist. the supreme court say they cannot do the work because of the mob around their building. it was likely they would rule on the legitimacy of egypt constitutional assembly. that body pushed through the constitution, the draft on friday. they go for a national referendum, up or down vote on december 15. if the constitution goes through, egypt president morsi says the extreme powers which he declared that he possessed would be void and it would go to normal here in egypt. richard morrison himself has strong public support. we have 200,000 people. mainly members of the muslim brotherhood who support the president come out on the street to show support. loud and emotional way. >> shannon: steve harr
, northbound towards santa clara, looking pretty bad. give yourself extra time. let's check in with steve. >>> tara, thank you. there's definitely some breaks in the clouds. jive seen gusts to 25 miles per hour. i dent think this -- i've seen gusts to 25 miles per hour. i don't think this -- this breeze can helpster things up a little bit. still some low clouds around. i'm seeing breaks in the clouds for san jose. kind of a cooler pattern with the northwest wind. mostly sunny, though, today, no rain except we're done for a while. in fact, as the pattern changes here, even the higher clouds will stay to the north as everything starts to build offshore. independent self -- instead of 58, 59. everything staying north for now. the breeze should turn more northerly as we head towards friday night and saturday. so fog, sun, breezy. that west to northwest wind out there. not outrageous. but it's showing itself. we'll take that right into your weekend as well. that could be pockets of fog, thick fog. but for the weekend, it looks sun? dry and temperatures are on the mild side. >>> a couple in mor
morning. happy friday. it is december 7. >> i am steve chenevey. we want to get right to jacqui jeras. >> we did make it to friday finally. the clouds are back. we have even a little bit of moisture out there. some sprinkles can be expected this morning. we will be and this on and off pattern all the way through the weekend into early next week. our temperatures -- some day was the coldest one of the bunch. today will be a little bit warmer. 39 degrees at reagan national. your forecast for today, cloudy with a straight shower, four degrees, cloudy skies and 47 at noon. 51 and mostly cloudy at 5:00. we will show you the weekend forecast. it probably will not be your favorite. that is coming up in just a few minutes. >> it will not be our favorite forecast? as we get up and adam -- at em, the overnight construction has been wrapped up. the beltway passing 650 that is the zone where they had the construction, i am not seeing anything there. they have picked everything up. kenilworth avenue, i had the overnight construction -- it looks like everything is quiet. here is the beltway to 02,
am steve chenevey. we want to get to jacqui jeras with a look at our forecast. >> good morning. it feels like december. the big chill is back. if you don't like the warm weather, are starting on the cold side again. if you like the sunshine, we will have plenty today. if you don't like the cold, we will have a milder weekend ahead. starting with temperatures in the upper 20s to low 30's across much of the region. 36 at reagan national, 31 at dulles. 23 in frederick and 32 degrees in fredericksburg. are expense forecast for today chile is still to 9:00 at 36 degrees. -- chilly. 44 at noon, 41 at 5:00, high temperatures around 46 degrees in the metro area. the seven-day forecast is coming up featuring rain in the forecast. back to you. >> thank you. we are following a developing story that could impact your morning commute on the outer loop of the beltway near 270. >> john gonzalez has the latest. >> highway crews are working as carefully as possible. you can imagine how dangerous the work is, but they are moving quickly. according to the maryland state highway administration, th
. one of the things that steve has worked on a great deal, and i do not want to take away his thunder, a look at how americans will stay competitive -- if we look at how america will stay competitive -- i hear your phone -- [laughter] the question of whether or not a merkel be able to compete, whether we will be able to make investments, are we -- are we going to be able to have the kind of innovation that creates jobs? north of 80% of the net new jobs made in america in the last 20 years have come from start-ups. where had the talent come from? disproportionately from a first generation americans. we are very lucky particularly in northern virginia, which rivals only the silicon valley in terms of the number of tech- related startups, you look a little deeper, and a 1 1/3 of the tech startups in northern virginia had one of the co- founders or founders as a first generation american. the numbers in the valley are even higher. how do we maintain that? one is talent. i will come back to that in a moment. another piece of this which we think is very complementary and something that stev
: this is joey fatone. it's time to play "family feud." give it up for steve harvey. [captioning made possible by fremantle media] steve: thank you very much. all right. just--ha ha! hey, welcome to "family feud," everybody. i'm your man steve harvey, and, boy, we got a good one for you today. returning for the second day all the way from waltham, massachusetts, it's the hallowell family... [cheering and applause]
. steve forbes saying fight, fight. pressure the president. then you have democrats, labor unio unions, the aarp saying we don't need to think about raising the retirement age. every time you have a short term play special interest dig in. until they erase the trust deficit, every time they do it incrementally they make it harder to do the big stuff. >> notwithstanding the problems in this conversation and notwithstanding problems from washington, there is some economic renaissance that's brewing under the surface here. we have an energy boom going on, low energy prices. we have manufacturing output increasing in this country. we have the housing boom with low interest rates to stay for a couple of yearses. is there enough that could happen that could offset what's going on in washington? can we grow our way out of this? >> we can't ignore them. if they blow it, there is nothing we can do. the risks are becoming more balanced where things like the housing recovery, consumer debt coming down are starting to offer the possibility where growth might be stronger although it could be lower.
the news wires. what we heard earlier from steve harrigan there is a situation developing outside the presidential palace. what the news wires are telling us is that some of the protestors that are protesting president mor morsi have broken through the police lines near the presidential palace and they are being met by teargas and opposition from the police. why the situation is one that we are continuing to watch so closely is whether or not the people in the streets, the demonstrations reach a level of violence, because the big question for the egyptian government is what is next here? if the people continue to protest the constitution put in place by the president, that may or may not be ratified in a few weeks, what is next for this country? so we'll continue to watch the developments out of cairo, egypt today, bring you updates as we get them. jon: the blue angels navy stunt flying seem seems to be channeling santa claus you might say using one of its cargo planes to fly donated toys out to the many families still reeling from the devastation of super storm sandy. jonathan se
't it? her father u.s. army captain steve oak walked through the door. his arrival was three days ahead of schedule.
me at the table is westin solutions, inc a company doi doing. steve coll and president of the new american foundation and a staff writer at the new yorker magazine. francis bernanke and dan dicker is it still at the table. i'm really curious about how this boom is going to transform american politics. i'm particularly concerned about climate, right? it seems to me that we are basically in certain ways headed in exactly the wrong direction, but also at the same time headed in the right direction. here's what i mean by that. k carbon emissions are the lowest in the country since 1992. that's largely because every btu of natural gas you substitute for coal, you get 50% of the emissions. at the same time we have this foss fill fuel boom, we have this decline in the carbon emissions. i wonder how should i feel from an environmental perspective about these two facts that seem to be in deep tension with each other? >> i think the main thing, chris, is we have to get on a path way to reduce emissions over time. natural gas is better than coal, but it does not get you there. you have to ha
teresa sullivan and steve case, the founder of aol. >> we have instructed the panel is not to say hello to friends and family, so i will do it for them. hi, mom, i kids. tonight's keynote concludes a series of discussions about the problems, prospects, and policies are running high skilled immigration policy in the u.s. this morning at the miller center washington d.c. office, we have brought to the panelists from law, economics, and the private sector to debate and deliberate about a range of topics related to high skilled immigration. our discussion was framed by which isng at s.aessay, available on the miller center web site. our first session this morning, they compared the united states h1b policy to the blue card initiative and the european union. gary friedman focused on the public's underlying immigration policy and concluded that immigration policy in the u.s. is reasonable and rational, given the structure of the u.s.'s interest group-based system of political expression. susan marcum of georgetown university's institute for international emigration argued, and many agreed, th
williams, remember, and pointed this out yesterday steve jobs told president obama, those manufacturing jobs are never going to be here in the united states. tim cook says, well, guess what? i am taking al company in a different direction. >> in many ways one of the things he did for me that removed a gigantic burden is that he told me on a couple of pages before he passed away to never question what he would have done. never asked a question what steve do, to just do what's right. >> so there was no wwsd. just do the right thing. now, here is where i disagree with tim cook a little bit. he said, here's why we haven't done this earlier. >> honestly, it's not too much about price. it's about the skills, et cetera. over time, there are skills that are associated with manufacturing that have left the u.s. not necessarily people but the education for producing. >> now, you see, i disagree with that. the skills are here americans can make these products. they can make them as good and better earn anybody in the entire world. we have a great skilled workforce
your crystal balls and tell us, the next 12 months, what will happen on this issue? steve? >> i am cautiously optimistic. six months ago, it passed with broad bipartisan support. with they came together on that legislation because it was important to provide sbrures with capital even though they said nothing could get done, something did get done. the good news people recognize the issue is important and there is a general agreement on the solution around high skilled immigration. the problem is is the politics and the economy and jobs have been prumped by the politics of immigration. i think there are four paths. one could be the pass the senate not be taken up in the senate. there is a lottery that would flult raising the overall level of immigration. if there was an agreement to include that that bill could be passed. a second option which is what the president has ind indicated he favors is to link high skilled immigration with the dream act. so it is a broader solution around immigration. the third would be to say this deals with the 50,000, this deals with a million five. the
, the clock is ticking. >> it is, we're watching, steve. thank you very much. >>> much of the conversation in washington regarding the fiscal cliff is focused on tax rates or how the federal government can bring in more revenue from you. what about the other side of the equation? cutting back on spending and borrowing. steve moore joins us to talk about that and separate fact from fiction when it comes to the numbers. >> thank you for asking that question about the spending side of the ledger. the laos two or three weeks the discussion has been about raising taxes and no discussion about reducing the amount -- the outgo. >> let's start there. if we stopped overspending, what would it take for the government to get lined up, to get rid of the debt and deficit. >> we've dug ourselves into a deep hole. when i came to washington we talked about the budget, deficit in the billions, now in the trillions of dollars. part of the problem is the numbers are large but it's a million, million dollars. the debt is $6 trillion and we're borrowing $1.1 trillion a year. the problem the president faces, ev
to happen. >> do you remember when steve brought seagate private. it was brimming with cash. raised the dividend next week. why doesn't michael dell pay out a special dividend and everyone is thrilled. >> fundamentals are still what? >> fundamentals are -- i mean, look. fundamentals depend upon a belief that the personal computer is going to be with us for a long time and is not that much in decline. ipad will not crush it. i don't know. >> why not redistrict some of that free cash flow and that cash into an area where you think you can attain real growth. try to recreate the company in some sort of significant way. >> i think that -- >> it's not easy to do that by the way. >> as rivals have discovered. >> maybe you want them to go into the pharmaceutical business. allerg allergen's weight loss business is for sale. not a lot of synergy there. you can't find growth in the personal computer business. it doesn't exist. >> maybe you could figure -- you'll carry it around on your ipad, maybe there's more synergy than you think. >> maybe he should take the cash and buy a lot of apple sto
sources of stimulus for this economy in the near ferm? >> steve, i like the humor around the group, and i think it's a slightly schizophrenic time. i think one can be deeply worried about the compression of growth, the collapse of inflation, and the possible revival of 1930s style policies around the world. that's deeply worrying. on the other hand, i think there is some space to be slightly optimistic that we're opening up opportunities for what i call a pivot to inhe flags both here in the united states and around the world. >> this is just around the corner, and it's going to destroy the economy and inflation has not ticked up. it's been low for the past few years. you say maybe a little inflation wouldn't be bad for the economy right here. kind of a counterintuitive argument to make. can you lay that case out a little bit? >> yeah. the big concern when you have a heavily indekted economy here in the united states and around the developed world the last thing you want is deflation, because that means the debt burdens get heavier and it becomes harder to pay them off. what you want esse
but some conservatives, ohio congressman steve latourette, has argued giving the president what he wants and reducing the debt by $4 or $5 billion. >> it depend wlats what the pac is. this is an administration that has 1 trillion plus deficits for each four years. >> one part of that that republicans have talked about, that 2%, and whether you're going to protect tax break force them. steve latourette said some people who call me, they're more worried about the fiscal cliff than about rates going up a couple of points. thomas rooney in your party, if there is truly entitlement reforms that's going to preserve social security and medicare for generations to come, it's going to be very difficult for me to oppose higher rates for the rich. what about that? >> and to mr. rooney's point, if in fact there were fundamental, significant reform of medicare, medicaid and social security so that we in fact save and strengthen and secure those programs, just like we did in our budget,those were included in the president's proposal, then that's something that we would talk about and very seriously co
. >> joining me now is steve and republican strategist and form are campaign manager for huckabee, jim saltsman. >> hello. >> pmr. demint has been trying o leverage his position as the tea party's uncompromising man in the gop and that his effort has failed or stalled. >> i don't think i agree with "the washington post" at all. i think he's had a great impact across the country and i think the move to the heritage makes a lot of sense to him personally. he always said he was going to be a two-term senator. had he a term less. he left early. he wasn't going to be a career politician. i think this makes a lot of sense for senator demint in a lot of ways and i think it's good for the conservative movement. >> he has supported candidates against more moderate republicans in primaries and then his candidate lost in the general election, including obviously richard mourdock in indiana, christine o'donnell, ken buck in colorado. what do you think is going to be the influence now for jim demint going into the heritage foundation? >> i think he's been a singular failure when you look at the candidates t
." not♪ ♪ [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. ♪ ♪ >> greg: last week, i went on a tour to promote my book "the joy of hate" which took me from florida, to alabama, and georgia. to tennessee. some call this the south with sarcasm. a buddy of mine gave me flick "deliverance" to watch as a joke. but i freaked out, large crowds with mom for daughters and sons for dads. dads for daughters. so many brought food from pumpkin bread to moonshine. that nearly killed me. more unicorns to shake a horn at. each place i went fan of the five turned on by a parent or their child. this was shared activity, the "the five," "red eye requests ants fnc, key place for families to comm
. we won in montana with steve bullock. he was a real leader, a real job creator, he is going to do great things in montana. we won in washington state with jay insl e! news who has been focused on economic development. we won there in a tight race. we come into this with a temperaturic organization that is well organized and can win even when we have have less friends than our other side. having said that, in 2014, we're looking a huge number of races. there are 34 races. so 2014 is going to be a huge year. . we have an exintruder candidate. he started his own business when he was 14 years old. now running against a right-wing tea party candidate attorney general there who literally said when asked do you align yourself with the tea party, he said i don't just align myself with the tea party i am a tea party groupie. it was rejected and we have high hopes for terry in virginia and we're going to help him. in new jersey it is no question that governor christie is popular. there are a lot of candidates, strong candidates in nrge and we're going to work with all of them to come out to
and sound and that's where steve's ideas lead to, then our superstucktures will have to collapse. >> david, what i'm hearing from you is three words. tax and spend. >> we're going to have to have a rematch here. we're out of time and we don't want to not pay our bills, so i have to take a break. what a great conversation though. thanks for both of you bringing my viewers some really great ideas. i have been warning you about this fiscal cliff for months now. i call it the economic storm of our own making, but some of you think all the talk is overblown. will a failure by washington really mean catastrophe for the economy? i'm going to debate with richard quest, next. [ roasting firewood ] ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. >>> time now for q and a. three weeks left to do a deal and yet, lawmakers in washington -- promising to cut trillions, but republicans insist it could be done without raising taxes on the rich. president obama insists at a nonstarter. what happ
's incomeathome.com. >> bill: all right. before we move -- lynn, let's welcome steve. peter ogborn here. keeping on track of our social world. >> we're tweeting at bpshow and taking your comments in the chat room at current.com/billpress. just a quick comment from rusty cannon on twitter. we just talked about my2k, the hash tag he said i'm guessing my2k would pay the electric bill for my car elevator. >> bill: mitt may need that to pay for his. let's say hello to steve calling from hollywood california. hey, steve, good morning. >> caller: hi, bill. hi lynn. great show as always, bill. >> bill: thank you. early on the west coast we know. thanks for joining us. >> caller: great program. definitely worth getting up for. to me, if anyone should be invited to the white house for a very nice lunch and maybe get some kind of a -- it is jimmy carter's grandson for coming up with that 47% video. >> bill: oh, yeah. >> i mean you know the truth when you hear it and when you see it and that was definitely it. and my question is did
. they have all of their products now being built in china and tim cooke, who replaced steve jobs and very rarely gave interviews, gave an interview to nbc he announced next year we'll do one of our existing mac lines in the united states. they're going to start creating some jobs here in america. >> bill: you know, that's a bfd. >> great news. >> seriously. >> bill: it is great news. we knew shortly before he died, steve jobs was at a very small dinner of high tech leaders with president obama in silicon valley and steve jobs says those jobs are never coming back, mr. president. stop talking about it. they ain't coming back. >> he was wrong apparently. >> bill: well, that was his policy and now somebody else is in charge. >> this is going to be building apple computers. they're still going to be building iphones and eye pats in china which makes up most of their business but this is a very good first step to bring jobs to america from apple. good for them. >> bill: i wonder where. >> they haven't announced where.
been a focus for a lot of speculation since the death of steve jobs. tim cook is now in charge at the helm for just over a year. he opened up to nbc's brian williams in his first television interview since taking over as the ceo and revealed a big change coming to apple. >> why can't you be a made in america company? >> you know, this iphone, as a matter of fact, the engine in here is made in america and not only are the engines here made in america, but engines are made in america and exported. the glass on this phone is made in kentucky. and so we've been working for years on doing more and more in the united states. next year, we will do one of our existing mac lines in the united states. >> let's say our constitution was a little different and president obama called you in tomorrow and said get everybody out of china and do whatever you have to do, make these, make everything you make in the united states. what would that do to the price of this device? >> honestly, it's not so much about price, it's about the skills et cetera. over time, there are skills that are associate
booktv highlights a few programs about economics. james gustav, steve forbes and george gilder all weigh in. watch this and more all weekend long on booktv. for a complete schedule, visit booktv.org. >> now, from albany, new york, we hear about the state-mandated new york state writer's institute. the program promotes cultural initiatives through author presentations, workshops, film screen things and more -- screenings and more. >> i can see each event just as vividly as i can see the posters before me. i'm donald faulkner, i'm director of the new york state writer's institute, and what we do, what i do is kind of herd intellectual cats. we bring a lot of writers through to albany to do readings, we also do a number of other types of programs, events, writing workshops and film series and programs with young writers and a summer institute that we run in saratoga. >> the life of the -- my life in the last few years was, i suppose you'd call it adventurous. but this thing ruined everything. [laughter] >> we go far and wide, find the best writers that we can and bring them to albany.
not even have a democracy here. host: a viewer on twitter says -- steve in florida, an independent caller. caller: good morning. how are you doing? any other way be anre there will agreement. i watched tom yesterday on c- span2. if any family brand their house all the way the u.s. government ran there's, if we could not print money, we would be in a very bad way. i just think we need to get this deficit under control. those two wars that we have not paid for need to be paid for. you know, it has to be done. if going off the fiscal cliff means that it will be done, so be it. host: other groups are weighing in on these fiscal cliff talks. here is "the new york times" -- in the "financial times" this morning -- roger altman writing today in "the financial times." president obama will be meeting with several governors today at the white house to talk about the fiscal cliff. they will be meeting this morning around 10:00 a.m. eastern time, and then the governors are slated to hold a news conference at around 11:30 a.m. eastern time. go to our website for more details. washington insiders tack
when this was over. we'll talk about her plans now. and congressman steve latourette will join us as well. cnn "newsroom" with carol costello begins right now. >>> bragging rights, iran claims they captured a u.s. drone and issues a warning "we shall trample on the united states." >>> drunk and partying the night before he shocked the nfl and fans. >>> director kathryn bigelow talks about the controversy over her bin laden death movie. >> i think it's nice because now the film can speak for itself and i certainly have a feeling that a lot of those debates will transition to something slightly less controversial. >> the full interview straight ahead. >>> so you don't read runway ? >> no. >> before today you never heard of me. >> no. >> you have no style or sense of fashion. >> i think that depends on what your -- >> no, no, that wasn't a question. >> the devil's diplomacy. vogue editor anna wintour, u.s. ambassador? maybe. "newsroom" starts now. good morning. thank you so much for joining me. i'm carol costello. this morning iran is bragging. it claims it capture d an american dron
house at steve santa plaza in beautiful downtown troy. right now we're at the stuyvesant plaza store, and we have been here since 1975, and we sell books. real books. books that you can hold in your hand, crack open, cuddle up in a chair with, those kind of books. i started out in the publishing industry, i was a sales rep for simon and schuster and then for penguin -- then putnam, that was back in the '90s and '8 o -- '70s and '80s. and i sold books all over upstate new york and throughout demand. and after about ten years i decided i wanted to go to the other side of the counter and sell books. and so i went to work for the bookstore here in this plaza, and i eventually bought into the business and then bought the business out. and so i have been here since, as sole owner, since 1991. and it's been an up and down history since then. shortly after i purchased the store with a small business administration loan, it was barnes & noble and borders moved in, and the -- literally, the literary landscape of albany, new york, changed overnight as it did across the country. because that exp
. absolutely we're with him. we did some of the early background on it. our guy steve groves was writing papers on this weeks and weeks ago. we're also surprised frankly the senate would bring it up in a lame duck session. this is something that needs full and considered -- >> they're going to bring it up again next year. you won't be there. >> they can bring it up and we'll take the same position. >> should there be a compromise in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore mone
on taxes and what not. >> eric: the reality is, we have a spending problem, steve. how much money we're actually taxing, tax revenues are going up. >> they have to. >> eric: it's a spending issue. if we're putting a trillion dollars into the deficit you can't fix that with taxes. >> no, you sure can't. eric, when i first came to washington, which was about 25 years ago, we barely had a trillion dollar budget and here we are, 25 years later and we're closing in on a 4 trillion dollar budget and that under democrats and republicans as well and there haven't been serious cuts in spending in this town in at least 10 or 15 years and i'm kind of frustrated that neither party is really serious about getting these spending programs under control. i mean, we have been-- you look at entitlement programs and president obama and a lot of democrats say we can't cut medicare, social security, medicaid. and that's half the budget there. of course, we're spending 600, 700 billion dollars a year just to pay the interest on the debt. just on the interest. so you don't get any return on that. one last
by american banker and called the next steve jobs. we'll get to the bottom of that. the ceo joins us now. >> thanks for having me. >> since the last time i've seen you you've been on the cover of forbes as innovator of the year. >> i walked by the news stand and you were just getting square underway the last, right before we saw you last time on the show. and the things have changed dramatically. air now being called the innovator of the year and compared to steve jobs for your innovation. tell me how square is changing the face of american business? >> we start with a simple idea which was, you know, my parents were entrepreneurs. they started up local businesses and my father started a pizza restaurants when he was a kid and my mother the coffee store and they face the challenges just starting up. and also accepting patients extremely challenges, so we made it easy for any small business or neighborhood place it instantly accept credit cards by giving them a free credit card reader and accept credit cards for 2.75% and we signed up over 3 million merchants. >> i have to say when i went
. but since then, we know that president obama and steve [indiscernible] spoke yesterday evening. the fact that neither side is leaking what happened on that call, you might say that they are trying to get back on track. they know that if they leak each other's confrontations, that is not good. there are only two participating really in this negotiation. and if they choose not to leak out that information widely, it is a speculation. >> what is the handle and how quickly could be brought -- what is the end goal and how quickly could be brought up for a vote? >> the goal is a down payment or some kind of thing for revenues, which is enough to get us past the fiscal cliff, turn off these automatic spending cuts and make sure that taxes don't go up. and then they would figure out what to do with the upper bracket. and then there would be a mechanism that would guarantee further action next year. if at all possible, they would disagree next year and there would be some sort of trigger or punishment for their lack of action. that sounds relatively simple, i think, putting it all together could
a short show because the house is coming in at 9:00. steve in gaithersburg, maryland, a republican caller. caller: host: when did the republican party become the party that restricts poor? i understand the tax cut for the rich is important to some people, but i feel the good thing would be unlimited in of government at the federal level. that has nothing to do with this. that would be more on the spending cuts. host: what do you make of the back a plan being reported by the new york times saying if we cannot come to some sort of deal, we should just passed tax cuts for the middle class americans and then fight later on for spending cuts and increasing taxes for the wealthy? caller: the tax cut for the general population is great. that would be good for stimulating the economy. but the big thing is hit there needs to be a balanced plan. we need more revenue and we need less spending at the federal level. what is good for california is not good for virginia and what's good for virginia is not good for maryland. maybe we need to focus on reducing the federal government overview. been there w
of the capitol, we can come back and execute the deal. >> joining me now is congressman steve israel of new york. chairman of the democratic national campaign committee. welcome. >> hey, carol. >> you heard your colleague from ohio. he says sometimes negotiations between congress and the white house are "charades" and that members are waiting for signals from the obama administration and people like speaker john boehner and majority leader reid before they go forward. do you see it that way? >> well, look, it's critical that the leaders of both parties and the white house, the house and senate come to an agreement fast. now, we have always said on the democratic side, house democrats have said we want deficit reduction that's big, bold and that is balanced. the president has put forth a variety of ideas and programs. the response consistently from house republicans has been, no, no and no. now they did come up with a proposal finally just two days ago. there are elements in that proposal we should talk about. elements in my view that we shouldn't. the bottom line is this. i'm not so sure that we
of chicago economist steve davis and co-authors, where they have this cool new index. it is a very innovative paper. they estimated that debt limit struggle subtracted about 1.5% from g.d.p. growth during that summer when it was happening because of the uncertainty and the inactivity caused by high levels of uncertainty. eve time we go through there, we bear a negative short-run cost. but if that is what it takes to get spending under control, then we have to concede that in the long run there is a benefit that we don't have these massive deficits crowding out long-term growth. the struggle would depending on whether debt reduction buys space for private capital or not. we may have higher economic growth in the long-run because we went through that struggle. >> so your position is we should be ready to go through that struggle again and in fact default on the national debt if necessary in order to enforce spending limits? >> that is of course not my position. my position is we should never default on the national debt. the politics of debt reduction as you all know better than me are very, ve
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